Cross River Bank partners with Payment Approved for business payment solutions
New Jersey-based Cross River Bank has announced that it has partnered with Payment Approved which is a payments company providing end-to-end payment solutions for clients.
Under this partnership with Payment Approved, Cross River Bank’s payment and technology infrastructure will facilitate the disbursement of funds through its Push-to-Card capabilities on both the Visa and MasterCard networks, as noted by the bank in press note.
“The industry is rapidly changing, which brings increased demand for safer and more efficient payment methods,” said Keith Vander Leest, Director of Payments at Cross River. “With this partnership, businesses can now access one platform to move money in a faster, simpler, and responsible way.”
The bank is the sponsor bank for offering clearing accounts, FBO management and merchant acquiring services to Payment Approved clients.
The platform by Payment Approved enables clients to send and receive money, process payments, exchange currencies and track movement through a digital ledger which is powered by Cross River Bank.
Headquartered at Fort Lee, Cross River Bank is a commercial bank founded in 2008 in the United States which is an FDIC member and operates under New Jersey charter.